Universal Registration Document 2025

/ Financial year 2024

Financial year 2024
(in millions of euros)	North America	Europe	Asia-Pacific	Middle East & Africa	Latin America	Total
Income statement items
Net revenue⁽¹⁾	Net revenue⁽¹⁾North America8,583	Net revenue⁽¹⁾ Europe 3,384	Net revenue⁽¹⁾Asia-Pacific1,218	Net revenue⁽¹⁾Middle East & Africa 406	Net revenue⁽¹⁾Latin America374	Net revenue⁽¹⁾ Total 13,965
Revenue⁽¹⁾⁽²⁾	Revenue ⁽¹⁾⁽²⁾North America 9,416	Revenue ⁽¹⁾⁽²⁾ Europe 4,097	Revenue ⁽¹⁾⁽²⁾Asia-Pacific 1,513	Revenue ⁽¹⁾⁽²⁾Middle East & Africa 586	Revenue ⁽¹⁾⁽²⁾Latin America 418	Revenue ⁽¹⁾⁽²⁾ Total 16,030
Depreciation and amortization expense (excluding acquired intangibles)	Depreciation and amortization expense (excluding acquired intangibles) North America (195)	Depreciation and amortization expense (excluding acquired intangibles) Europe (222)	Depreciation and amortization expense (excluding acquired intangibles) Asia-Pacific (59)	Depreciation and amortization expense (excluding acquired intangibles) Middle East & Africa (10)	Depreciation and amortization expense (excluding acquired intangibles) Latin America (9)	Depreciation and amortization expense (excluding acquired intangibles) Total (495)
Operating margin	Operating marginNorth America1,640	Operating margin Europe 588	Operating marginAsia-Pacific242	Operating marginMiddle East & Africa 20	Operating marginLatin America29	Operating margin Total 2,519
Amortization of intangibles from acquisitions	Amortization of intangibles from acquisitions North America (191)	Amortization of intangibles from acquisitions Europe (30)	Amortization of intangibles from acquisitions Asia-Pacific (9)	Amortization of intangibles from acquisitions Middle East & Africa (2)	Amortization of intangibles from acquisitions Latin America (2)	Amortization of intangibles from acquisitions Total (234)
Impairment loss	Impairment loss North America (62)	Impairment loss Europe (10)	Impairment loss Asia-Pacific (12)	Impairment loss Middle East & Africa -	Impairment loss Latin America (2)	Impairment loss Total (86)
Non-current income and expenses	Non-current income and expenses North America 3	Non-current income and expenses Europe -	Non-current income and expenses Asia-Pacific 11	Non-current income and expenses Middle East & Africa (1)	Non-current income and expenses Latin America 2	Non-current income and expenses Total 15
Operating income after impairment	Operating income after impairmentNorth America1,390	Operating income after impairment Europe 548	Operating income after impairmentAsia-Pacific232	Operating income after impairmentMiddle East & Africa 17	Operating income after impairmentLatin America27	Operating income after impairment Total 2,214
Balance sheet items
Intangible assets⁽³⁾	Intangible assets ⁽³⁾North America 11,040	Intangible assets ⁽³⁾ Europe 2,117	Intangible assets ⁽³⁾Asia-Pacific 1,212	Intangible assets ⁽³⁾Middle East & Africa 402	Intangible assets ⁽³⁾Latin America 141	Intangible assets ⁽³⁾ Total 14,912
Property, plant and equipment (including right-of-use assets on leases)⁽³⁾	Property, plant and equipment (including right-of-use assets on leases) ⁽³⁾North America 959	Property, plant and equipment (including right-of-use assets on leases) ⁽³⁾ Europe 1,181	Property, plant and equipment (including right-of-use assets on leases) ⁽³⁾Asia-Pacific 146	Property, plant and equipment (including right-of-use assets on leases) ⁽³⁾Middle East & Africa 21	Property, plant and equipment (including right-of-use assets on leases) ⁽³⁾Latin America 36	Property, plant and equipment (including right-of-use assets on leases) ⁽³⁾ Total 2,343
Non-current other financial assets⁽³⁾	Non-current other financial assets ⁽³⁾North America 56	Non-current other financial assets ⁽³⁾ Europe 187	Non-current other financial assets ⁽³⁾Asia-Pacific 33	Non-current other financial assets ⁽³⁾Middle East & Africa 3	Non-current other financial assets ⁽³⁾Latin America 8	Non-current other financial assets ⁽³⁾ Total 287
Disclosures in respect of the statement of cash flows
Purchases of property, plant and equipment and intangible assets	Purchases of property, plant and equipment and intangible assets North America (130)	Purchases of property, plant and equipment and intangible assets Europe (64)	Purchases of property, plant and equipment and intangible assets Asia-Pacific (30)	Purchases of property, plant and equipment and intangible assets Middle East & Africa (3)	Purchases of property, plant and equipment and intangible assets Latin America (11)	Purchases of property, plant and equipment and intangible assets Total (238)
Purchases of investments and other financial assets, net	Purchases of investments and other financial assets, net North America (4)	Purchases of investments and other financial assets, net Europe 41	Purchases of investments and other financial assets, net Asia-Pacific (1)	Purchases of investments and other financial assets, net Middle East & Africa -	Purchases of investments and other financial assets, net Latin America (2)	Purchases of investments and other financial assets, net Total 34
Acquisitions of subsidiaries	Acquisitions of subsidiaries North America (821)	Acquisitions of subsidiaries Europe (76)	Acquisitions of subsidiaries Asia-Pacific (18)	Acquisitions of subsidiaries Middle East & Africa -	Acquisitions of subsidiaries Latin America-	Acquisitions of subsidiaries Total (915)

Because of the way this indicator is calculated (difference between billings and cost of billings), there are no eliminations between the different zones.
In Europe, revenue for 2024 was euro 4,097 million, of which euro 1,147 million in France. In North America, revenue for 2024 was euro 9,416 million, of which euro 9,036 million in the United States.
As of December 31, 2024, net intangible assets amounted to euro 14,912 million, of which euro 415 million in France and euro 10,556 million in the United States. Net property, plant and equipment amounted to euro 2,343 million, of which euro 833 million in France and euro 930 million in the United States. Other financial assets amounted to euro 287 million, of which euro 122 million in France and euro 56 million in the United States.

Universal Registration Document 2025

Board of directors

/ Financial year 2024