Universal Registration Document 2025

Board of directors

/ Headline earnings per share (basic and diluted)
(in millions of euros, except for share data) 2025 2024
Net income used to calculate headline earnings per share(1)      
Net income attributable to holders of the Company   1,653 1,660
Items excluded:      

Amortization of intangibles from acquisitions, net of tax

  157 174

Impairment loss(2), net of tax

  28 66

Main capital gains and losses on disposal of assets and fair value adjustment of financial assets, net of tax

  (1) (14)

Revaluation of earn-out payments

  59 (35)
Headline net income attributable to holders of the Company E 1,896 1,851
Impact of dilutive instruments:      

Savings in financial expenses related to the conversion of debt instruments, net of tax

  - -

Headline net income attributable to holders of the Company - diluted

F 1,896 1,851
Number of shares used to calculate earnings per share      

Number of shares at January 1

  254,311,860 254,311,860

Shares created over the year

  - -

Treasury shares to be deducted (average for the year)

  (3,176,388) (3,634,398)

Average number of shares used for the calculation

C 251,135,472 250,677,462

Impact of dilutive instruments:

     

DIlutive free shares

  2,207,710 2,888,336

Number of diluted shares (in euros)

D 253,343,182 253,565,798
Headline earnings per share(1) E/C 7.55 7.38
Headline earnings per share – diluted(1) F/D 7.48 7.30