Universal Registration Document 2025

6.1 Consolidated income statement

6 Consolidated financial statements 2025 year

6.1 Consolidated income statement

6.1 CONSOLIDATED INCOME STATEMENT

CONSOLIDATED INCOME STATEMENT
(in millions of euros) Notes 2025 2024
Net revenue(1) Net revenue(1)Notes

4

Net revenue(1)

2025

14,547

Net revenue(1)

2024

13,965

Pass-through revenue

Pass-through revenue

Notes

 

Pass-through revenue

2025

2,852

Pass-through revenue

2024

2,065

Revenue RevenueNotes

4

Revenue

2025

17,399

Revenue

2024

16,030

Personnel costs and freelancers costs

Personnel costs and freelancers costs

Notes

5

Personnel costs and freelancers costs

2025

(9,590)

Personnel costs and freelancers costs

2024

(9,224)

Other operating costs

Other operating costs

Notes

6

Other operating costs

2025

(4,641)

Other operating costs

2024

(3,792)

Operating margin before depreciation & amortization Operating margin before depreciation & amortizationNotes

 

Operating margin before depreciation & amortization

2025

3,168

Operating margin before depreciation & amortization

2024

3,014

Depreciation and amortization expense (excluding intangibles from acquisitions)

Depreciation and amortization expense (excluding intangibles from acquisitions)

Notes

7

Depreciation and amortization expense (excluding intangibles from acquisitions)

2025

(520)

Depreciation and amortization expense (excluding intangibles from acquisitions)

2024

(495)

Operating margin Operating marginNotes

 

Operating margin

2025

2,648

Operating margin

2024

2,519

Amortization of intangibles from acquisitions

Amortization of intangibles from acquisitions

Notes

7

Amortization of intangibles from acquisitions

2025

(212)

Amortization of intangibles from acquisitions

2024

(234)

Impairment loss

Impairment loss

Notes

7

Impairment loss

2025

(37)

Impairment loss

2024

(86)

Non-current income and expenses

Non-current income and expenses

Notes

8

Non-current income and expenses

2025

(5)

Non-current income and expenses

2024

15

Operating income Operating incomeNotes

 

Operating income

2025

2,394

Operating income

2024

2,214

Financial debt expenses

Financial debt expenses

Notes

9

Financial debt expenses

2025

(115)

Financial debt expenses

2024

(122)

Financial debt income

Financial debt income

Notes

9

Financial debt income

2025

123

Financial debt income

2024

174

Revaluation of earn-out commitments

Revaluation of earn-out commitments

Notes

9

Revaluation of earn-out commitments

2025

(59)

Revaluation of earn-out commitments

2024

35

Other financial income and expenses

Other financial income and expenses

Notes

9

Other financial income and expenses

2025

(108)

Other financial income and expenses

2024

(81)

Financial result Financial resultNotes

 

Financial result

2025

(159)

Financial result

2024

6

Share of profit of equity-accounted investees, net of tax

Share of profit of equity-accounted investees, net of tax

Notes

15

Share of profit of equity-accounted investees, net of tax

2025

3

Share of profit of equity-accounted investees, net of tax

2024

(2)

Pre-tax income Pre-tax incomeNotes

 

Pre-tax income

2025

2,238

Pre-tax income

2024

2,218

Income taxes

Income taxes

Notes

10

Income taxes

2025

(577)

Income taxes

2024

(549)

Net income

Net income

Notes

 

Net income

2025

1,661

Net income

2024

1,669

Total net income attributable to: Total net income attributable to:Notes

 

Total net income attributable to:

2025

 

Total net income attributable to:

2024

 

Non-controlling interests

Non-controlling interests

Notes

 

Non-controlling interests

2025

8

Non-controlling interests

2024

9

Owners of the Company

Owners of the Company

Notes

 

Owners of the Company

2025

1,653

Owners of the Company

2024

1,660

 
Per-share data (in euros) – Net income attributable to owners of the Company Per-share data (in euros) – Net income attributable to owners of the CompanyNotes

11

Per-share data (in euros) – Net income attributable to owners of the Company

2025

 

Per-share data (in euros) – Net income attributable to owners of the Company

2024

 

Number of shares Number of sharesNotes

 

Number of shares

2025

251,135,472

Number of shares

2024

250,677,462

Earnings per share

Earnings per share

Notes

 

Earnings per share

2025

6.58

Earnings per share

2024

6.62

Number of diluted shares Number of diluted sharesNotes

 

Number of diluted shares

2025

253,343,182

Number of diluted shares

2024

253,565,798

Diluted earnings per share

Diluted earnings per share

Notes

 

Diluted earnings per share

2025

6.52

Diluted earnings per share

2024

6.55