Key figures
KEY CONSOLIDATED DATA
| In millions of euros | H1 2025 | 2024 | H1 2024 |
|---|---|---|---|
| Revenue | 8,034 | 15,170 | 7,504 |
| Growth at current exchange rates vs. n-1 | 7.1% | 13.0% | 12.0% |
| Growth at constant exchange rates vs. n-1(1) | 8.1% | 14.7% | 15.1% |
| Recurring operating income(2) | 3,327 | 6,150 | 3,148 |
| As a % of revenue | 41.4% | 40.5% | 42.0% |
| Operating income | 3,327 | 6,150 | 3,148 |
| As a % of revenue | 41.4% | 40.5% | 42.0% |
| Net profit – Group share | 2,246 | 4,603 | 2,368 |
| As a % of revenue * | 28.0% | 30.3% | 31.6% |
| Operating cash flows | 2,733 | 5,378 | 2,829 |
| Operating investments | 316 | 1,067 | 319 |
| Adjusted free cash flows(3) | 1,847 | 3,767 | 1,776 |
| Equity – Group share | 16,602 | 17,327 | 15,052 |
| Net cash position(4) | 10,319 | 11,642 | 9,477 |
| Restated net cash position(5) | 10,723 | 12,039 | 10,033 |
| Workforce (number of employees)(6) | 25,697 | 25,185 | 23,874 |
(1) Growth at constant exchange rates is calculated by applying the average exchange rates of the previous period to the current period’s revenue, for each currency.
(2) Recurring operating income is one of the main performance indicators monitored by the group’s General Management. It corresponds to the operating income excluding non-recurring items having a significant impact likely to affect the understanding of the group’s economic performance.
(3) Adjusted free cash flow corresponds to the sum of operating cash flows and change in working capital requirement, less operating investments and repayment of lease liabilities, as per IFRS cash flow statement.
(4) The net cash position includes cash and cash equivalents on the asset side of the balance sheet, less bank overdrafts presented within the short-term borrowings and financial liabilities on the liability side of the balance sheet. It does not include lease liabilities recognised in accordance with IFRS 16.
(5) The restated net cash position corresponds to the net cash position, plus cash investments that do not meet IFRS criteria for cash equivalents as a result of their original maturity of more than three months, minus borrowings and financial liabilities.
(6) Permanent + fixed‑term employment contracts with no length of service condition (23,242 published at the end of June 2024, excluding fixed-term contracts of less than 9 months, before the CSRD methodology change).
* 31.2% in the first half of 2025 after restatement of the exceptional contribution on the profits of large companies in France.
FIRST HALF 2025 KEY FIGURES
