v3.26.1
Consolidated statement of changes in equity - EUR (€)
€ in Millions
Total
Aggregate continuing and discontinued operations
Total
Total
Aggregate continuing and discontinued operations
Called up share capital
Share premium account
Unification reserve
Other reserves
Other reserves
Aggregate continuing and discontinued operations
Retained profit
Retained profit
Aggregate continuing and discontinued operations
Non- controlling interest
Non- controlling interest
Aggregate continuing and discontinued operations
Equity at beginning of period at Dec. 31, 2024 € 22,555   € 19,990   € 88 € 52,844 € (73,364) € (9,299)   € 49,721   € 2,565  
Profit or loss for the period 3,811 [1]   3,512             3,512   299  
Other comprehensive income, net of tax:                          
Equity instruments (losses)/gains (45) [1] € (45)   € (45)         € (45)        
Cash flow hedges (losses)gains (47) [1] (95)   (94)         (94)       € (1)
Remeasurement of defined benefit pension plans (59) [1] (37)   (33)             € (33)   (4)
Currency retranslation (losses)/gains (1,552) [1] (2,113) [2]   (1,844) [2]         (1,788) [2]   (56) [2]   (269) [2]
Total comprehensive income   1,521 [1]   1,496         (1,927)   3,423   25
Dividends on ordinary capital (2,233)   (2,233)             (2,233)      
Repurchase of shares [3] (1,510)   (1,510)         (1,510)          
Movements in treasury shares [4] (144)   (144)         1   (145)      
Share-based payment credit [5] 162   162             162      
Dividends paid to non-controlling interests (279)                     (279)  
Hedging loss/(gain) transferred to non-financial assets (69)   (70)         (70)       1  
Other movement in equity [6] (72)   103         331   (228)   (175)  
Equity at end of period at Jun. 30, 2025 19,931   17,794   88 52,844 (73,364) (12,474)   50,700   2,137  
Equity at beginning of period at Dec. 31, 2025 17,587   15,530   85 52,844 (73,364) (8,264)   44,229   2,057  
Profit or loss for the period 3,579   3,316             3,316   263  
Other comprehensive income, net of tax:                          
Equity instruments (losses)/gains 211 211   211         211        
Cash flow hedges (losses)gains 196 196   185         185       11
Remeasurement of defined benefit pension plans 91 91   91             91    
Currency retranslation (losses)/gains 627 627 [2]   643 [2]         333 [2]   310 [2]   (16) [2]
Total comprehensive income   € 4,704   € 4,446         € 729   € 3,717   € 258
Dividends on ordinary capital (2,034)   (2,034)             (2,034)      
Repurchase of shares [3] (1,507)   (1,507)         (1,507)          
Movements in treasury shares [4] (133)   (133)             (133)      
Share-based payment credit [5] 122   122             122      
Dividends paid to non-controlling interests (248)                     (248)  
Hedging loss/(gain) transferred to non-financial assets (67)   (56)         (56)       (11)  
Other movement in equity [7] (118)   (175)         (205)   30   57  
Equity at end of period at Jun. 30, 2026 € 18,307   € 16,193   € 85 € 52,844 € (73,364) € (9,303)   € 45,931   € 2,113  
[1] 2025 comparatives have been re-presented to reflect the demerger of the Ice Cream Business Group.
[2] 2026 includes a hyperinflation adjustment of €299 million (2025: €(43) million) in relation to Argentina and Turkey.
[3] Repurchase of shares reflects the cost of acquiring ordinary shares as part of the share buyback program on 13 February 2025 and 12 February 2026.
[4] Includes purchases and sales of treasury shares, other than the share buyback programme and the transfer from treasury shares to retained profit of
share-settled schemes arising from prior years and differences between purchase and grant price of share awards.
[5] The share-based payment credit relates to the non-cash charge recorded against operating profit in respect of the fair value of share options and
awards granted to employees.
[6] Includes the impact on the minority liability and non-controlling interest following the step-up acquisitions of Nutraceutical Wellness, Inc. (Nutrafol), Welly Health PBC and Equilibra.
[7] Includes the recognition of liability for the future buyout of minority interests and the related non-controlling interest arising on the acquisition of Gruns
Nutrition.