v3.26.1
Consolidated statement of changes in shareholders' equity - EUR (€)
€ in Millions
Total
Issued capital [member]
Share premium [member]
Treasury shares [member]
Perpetual Bond [Member]
Other reserves [member]
Retained earnings [member]
Reserve of exchange differences on translation [member]
Equity attributable to owners of parent [member]
Non-controlling interests [member]
Beginning balance at Dec. 31, 2022 € 5,658 € 696 € 1,564 € (80) € 1,175 € 2,428 [1] € (34) € (153) € 5,596 € 62
Profit for the period (904)           (905)   (905) 1
Other comprehensive income (169)             (169) (169) 0
Total comprehensive income for the year (1,073)           (905) (169) (1,074) 1
Allocation of result           (34) [1] 34      
Reclassification of perpetual bond (550)       (550) 0 [1]     (550)  
Coupon on perpetual bond (49)         (49) [1]     (49)  
Tax on perpetual bond coupon 14         14 [1]     14  
Transactions with owners in their capacity as owners:                    
Dividends provided for or paid [2] (220)         (220) [1]     (220)  
Purchase of treasury shares (27)     (27)         (27)  
Share-based compensation expense 9         9 [1]     9  
Exercise of share-based compensation 2     12   (10) [1]     2  
Transactions with non-controlling interest and other movements (6)         (1) [1]   1   (6)
Total transactions with owners in their capacity as owners (242)     (15)   (222) [1]   1 (236) (6)
Ending balance at Dec. 31, 2023 3,758 696 1,564 (95) 625 2,137 [1] (905) (321) 3,701 57
Profit for the period 27           15   15 12
Other comprehensive income 204         (1) [1]   204 203 1
Total comprehensive income for the year 231         (1) [1] 15 204 218 13
Allocation of result           (905) [1] 905      
Partial redemption of perpetual bond (35)       (37) 2 [1]     (35)  
Coupon on perpetual bond (49)         (49) [1]     (49)  
Tax on perpetual bond coupon 6         6 [1]     6  
Transactions with owners in their capacity as owners:                    
Dividends provided for or paid [3] (320)         (320) [1]     (320)  
Purchase of treasury shares (124)     (124)         (124)  
Share-based compensation expense 10         10 [1]     10  
Exercise of share-based compensation (1)     21   (22) [1]     (1)  
Income tax relating to treasury shares impairment expense or reversal 20         20 [1]     20  
Transactions with non-controlling interest and other movements (4)         (3) [1]     (3) (1)
Total transactions with owners in their capacity as owners (419)     (103)   (315) [1]     (418) (1)
Ending balance at Dec. 31, 2024 3,492 696 1,564 (198) 588 875 [1] 15 (117) 3,423 69
Profit for the period (94)           (95)   (95) 1
Other comprehensive income (419)         (7) [1]   (410) (417) (2)
Total comprehensive income for the year (513)         (7) [1] (95) (410) (512) (1)
Allocation of result           15 [1] (15)      
Partial redemption of perpetual bond (59)       (63) 4 [1]     (59)  
Coupon on perpetual bond (16)         (16) [1]     (16)  
Tax on perpetual bond coupon 4         4 [1]     4  
Transactions with owners in their capacity as owners:                    
Dividends provided for or paid [4] (207)         (207) [1]     (207)  
Share-based compensation expense 3     0   3     3  
Exercise of share-based compensation 6     17   (11) [1]     6  
Income tax relating to treasury shares impairment expense or reversal (19)     0   (19) [1]     (19)  
Non controlling interests recognized on acquisition of subsidiary 26         0 [1]     0 26
Transactions with non-controlling interest and other movements (3)         0 [1]     0 (3)
Total transactions with owners in their capacity as owners (194)     17   (234) [1]     (217) 23
Ending balance at Dec. 31, 2025 € 2,714 € 696 € 1,564 € (181) € 525 € 641 [1] € (95) € (527) € 2,623 € 91
[1] The non-distributable items included in other reserves are described in Note 26.
[2] Dividends are presented net of dividends received on treasury shares of EUR 3 million.
[3] Dividends are presented net of dividends received on treasury shares of EUR 15 million.
[4] Dividends are presented net of dividends received on treasury shares of EUR 17 million.