As at 31 December 2025 and 2024
(€ Million) |
|
Notes |
|
2025 |
|
2024 |
||||
|---|---|---|---|---|---|---|---|---|---|---|
Assets |
|
|
|
|
|
|
||||
Tangible assets |
|
|
6,146 |
|
5,590 |
|||||
Goodwill |
|
|
649 |
|
639 |
|||||
Intangible assets |
|
|
164 |
|
156 |
|||||
Investment property |
|
|
|
6 |
|
8 |
||||
Right-of-use assets |
|
|
4,001 |
|
3,676 |
|||||
Biological assets |
|
|
|
18 |
|
10 |
||||
Investments in joint ventures and associates |
|
|
125 |
|
84 |
|||||
Loans to joint ventures and associates |
|
|
|
3 |
|
– |
||||
Other financial investments |
|
|
23 |
|
2 |
|||||
Trade debtors, accrued income and deferred costs |
|
|
48 |
|
50 |
|||||
Derivative financial instruments |
|
|
2 |
|
– |
|||||
Deferred tax assets |
|
|
267 |
|
246 |
|||||
Total non-current assets |
|
|
|
11,452 |
|
10,462 |
||||
Inventories |
|
|
2,248 |
|
1,997 |
|||||
Biological assets |
|
|
|
27 |
|
19 |
||||
Income tax receivable |
|
|
|
149 |
|
98 |
||||
Trade debtors, accrued income and deferred costs |
|
|
914 |
|
895 |
|||||
Derivative financial instruments |
|
|
0 |
|
0 |
|||||
Cash and cash equivalents |
|
|
2,268 |
|
1,823 |
|||||
Total current assets |
|
|
|
5,606 |
|
4,833 |
||||
Total assets |
|
|
|
17,058 |
|
15,295 |
||||
|
|
|
|
|
|
|
||||
Shareholders’ equity and liabilities |
|
|
|
|
|
|
||||
Share capital |
|
|
629 |
|
629 |
|||||
Share premium |
|
|
22 |
|
22 |
|||||
Own shares |
|
|
(6) |
|
(6) |
|||||
Other reserves |
|
|
|
(89) |
|
(99) |
||||
Retained earnings |
|
|
|
2,734 |
|
2,460 |
||||
|
|
|
|
3,291 |
|
3,006 |
||||
Non-controlling interests |
|
|
238 |
|
247 |
|||||
Total shareholders’ equity |
|
|
|
3,529 |
|
3,253 |
||||
Borrowings |
|
|
519 |
|
505 |
|||||
Lease liabilities |
|
|
3,652 |
|
3,311 |
|||||
Trade creditors, accrued costs and deferred income |
|
|
7 |
|
6 |
|||||
Derivative financial instruments |
|
|
– |
|
13 |
|||||
Employee benefits |
|
|
82 |
|
79 |
|||||
Provisions for risks and contingencies |
|
|
130 |
|
83 |
|||||
Deferred tax liabilities |
|
|
129 |
|
130 |
|||||
Total non-current liabilities |
|
|
|
4,520 |
|
4,126 |
||||
Borrowings |
|
|
731 |
|
509 |
|||||
Lease liabilities |
|
|
670 |
|
607 |
|||||
Trade creditors, accrued costs and deferred income |
|
|
7,590 |
|
6,787 |
|||||
Derivative financial instruments |
|
|
4 |
|
4 |
|||||
Income tax payable |
|
|
|
14 |
|
9 |
||||
Total current liabilities |
|
|
|
9,009 |
|
7,916 |
||||
Total shareholders’ equity and liabilities |
|
|
|
17,058 |
|
15,295 |
||||
|
||||||||||