Universal Registration Document 2025

Key figures

OPERATING MARGIN(1)

In millions of euros

This chart shows the trend in operating margin(See definitions in the glossary at the end of the introduction.) in millions of euros and as a percentage of net revenue. In millions of euros. 2023: €2,363 million. 2024: €2,519 million. 2025: €2,648 million. % of net revenue. 2023: 18.0%. 2024: 18.0%. 2025: 18.2%.

NET INCOME HEADLINE GROUPE(1)

In millions of euros

2023: 1,767; 2024: 1,851; 2025: 1,896;

FREE CASH FLOW before change in working capital requirement(1)

In millions of euros

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; 2025: 2,032;

HEADLINE EARNINGS PER SHARE -DILUTED(2)

In euros

2023: 6.96; 2024: 7.30; 2025: 7.48;

DIVIDEND PER SHARE

In euros

2023: 3.40; 2024: 3.60; 2025: 3.75 (Submitted to the vote of shareholders at the Annual General Meeting of May 27, 2026.);

PAYOUT RATIO

2023: 48.9%; 2024: 49.3%; 2025: 50.1%;