Universal Registration Document 2024

OPERATING MARGIN ⁽¹⁾

In millions of euros

This diagram represents the operating Margin(See definitions in the glossary at the end of the introduction.) in Millions of Euros. 2022: Operating margin: €2,266, Percentage of net revenue: 18%. 2023: Operating margin: €2,363, Percentage of net revenue: 18%. 2024: Operating margin: €2,519, Percentage of net revenue: 18%

NET INCOME HEADLINE GROUPE ⁽¹⁾

In millions of euros

Net Income – Headline Groupe (See definitions in the glossary at the end of the introduction.) 2022: €1,611. 2023: €1,767. 2024: €1,851

FREE CASH FLOW
BEFORE CHANGE IN WORKING CAPITAL REQUIREMENTS ⁽¹⁾

In millions of euros

2. Free Cash Flow – Before Change in Working Capital Requirements (See definitions in the glossary at the end of the introduction.) 2022: €1,807 (Reported free cash flow for 2023 is euro 1,547 million after payment of euro 148 million in respect of the Rosetta settlement agreement and payment of additional tax of euro 107 million paid in January 2023 for 2022 in application of the American legislation “Tax Cuts and Jobs Act” (TCJA) on the capitalization of R&D expenses.). 2023: €1,547 (Reported free cash flow for 2023 is euro 1,547 million after payment of euro 148 million in respect of the Rosetta settlement agreement and payment of additional tax of euro 107 million paid in January 2023 for 2022 in application of the American legislation “Tax Cuts and Jobs Act” (TCJA) on the capitalization of R&D expenses.). 2024: €1,838

HEADLINE EARNINGS PER SHARE - DILUTED ⁽²⁾

In euros

This chart shows the evolution of the diluted recurring net earnings per share between 2022 and 2024, expressed in euros (Submitted to the vote of shareholders at the Annual General Meeting of May 27, 2025.). In 2022, it was 6.35 euros. In 2023, it increased to 6.96 euros. In 2024, it reached 7.30 euros.

DIVIDEND PER SHARE

In euros

This chart illustrates the evolution of the dividend per share between 2022 and 2024, expressed in euros. In 2022, the dividend was €2.90. In 2023, it increased to €3.40. In 2024, it reaches €3.60(Submitted to the vote of shareholders at the Annual General Meeting of May 27, 2025.)

PAYOUT RATIO

In %

This image shows the payout ratio as a percentage for the years 2022 to 2024. In 2022, the payout ratio was 45.7%. In 2023, it increased to 48.9%. In 2024, it reaches 49.3%

See definitions in the glossary at the end of the introduction.
Reported free cash flow for 2023 is euro 1,547 million after payment of euro 148 million in respect of the Rosetta settlement agreement and payment of additional tax of euro 107 million paid in January 2023 for 2022 in application of the American legislation “Tax Cuts and Jobs Act” (TCJA) on the capitalization of R&D expenses.
Submitted to the vote of shareholders at the Annual General Meeting of May 27, 2025.