Operating income totaled euro 158 million in 2025, compared with euro 150 million in the previous year. It includes rental income on real estate and fees for services contracted by the Groupe’s subsidiaries for euro 36 million, (compared to euro 40 million in 2024), and pass-through revenue and other income for euro 122 million (compared to euro 110 million in 2024). The majority of these last items have no impact on the Company’s net income, since they are offset by operating expenses. The increase comes from the re-invoicing to Groupe agencies of the deliveries of free shares to employees benefitting from LTI plans.
Operating expenses amounted to euro 153 million in 2025, compared with euro 146 million the previous year. Excluding pass-through costs, they remained stable.
As a result, operating income is a euro 4 million profit, as well as in 2024.
Financial income amounted to euro 1,110 million in 2025, compared to euro 2,008 million the previous year, mostly due to the decrease in the dividends received from subsidiaries.
