Key figures
KEY CONSOLIDATED DATA
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Revenue | 16,002 | 15,170 |
| Growth at current exchange rates vs. n-1 | 5.5% | 13.0% |
| Growth at constant exchange rates vs. n-1(1) | 8.9% | 14.7% |
| Recurring operating income(2) | 6,569 | 6,150 |
| As a % of revenue | 41.0% | 40.5% |
| Operating income | 6,569 | 6,150 |
| As a % of revenue | 41.0% | 40.5% |
| Net profit – Group share | 4,524 | 4,603 |
| As a % of revenue * | 28.3% | 30.3% |
| Operating cash flows | 5,607 | 5,378 |
| Operating investments | 1,161 | 1,067 |
| Adjusted free cash flows(3) | 3,880 | 3,767 |
| Equity – Group share | 18,840 | 17,327 |
| Net cash position(4) | 12,239 | 11,642 |
| Restated net cash position(5) | 12,773 | 12,039 |
| Workforce (number of employees)(6) | 26,494 | 25,185 |
(1) Growth at constant exchange rates is calculated by applying, for each currency, the average exchange rates of the previous period to the revenue for the period.
(2) Recurring operating income is one of the main performance indicators monitored by Group Management. It corresponds to operating income excluding non-recurring items having a significant impact that may affect understanding of the group’s economic performance.
(3) Adjusted free cash flows are the sum of cash flows related to operating activities, less operating investments and the repayment of lease liabilities recognised in accordance with IFRS 16 (aggregates in the consolidated statement of cash flows).
(4) Net cash position includes cash and cash equivalents presented under balance sheet assets, less bank overdrafts which appear under short-term borrowings and financial liabilities on the liabilities side. Net cash position does not include lease liabilities recognised in accordance with IFRS 16.
(5) The restated net cash position corresponds to net cash plus cash investments that do not meet the IFRS criteria for cash equivalents due in particular to their original maturity of more than three months, less borrowings and financial liabilities.
(6) Permanent + fixed‑term employment contracts with no length of service condition.
* 30.3% in 2025 after restatement of the exceptional contribution on the profits of large companies in France.
2025 KEY FIGURES
2024 Universal Registration Document
(including the annual financial report)